|Approval Date||13 Sep 2001|
|Signature Date||06 Aug 2002|
|Planned Completion Date||06 Sep 2003|
|Last Disbursement Planned Date||30 Sep 2003|
|Sovereign / Non-Sovereign||Sovereign|
|DAC Sector Code||24030|
The present project concerns the second line of credit to Agribank. It's intended to provide support to Namibia’s national efforts to correct the historical injustices arising from agricultural land ownership and to supplement these efforts with the provision of the necessary means to the new land owners to economically exploit the land. This second line of credit aimed at the provision of financial resources to Agribank for on-lending, at market rates, to emerging/commercial farmers, as well as, established commercial farmers countrywide in order to raise the incomes of emerging, as well as, established commercial farmers, by increasing the productivity and overall production of their agricultural operations. This line of credit should be used to finance the procurement of farmland and livestock, agricultural equipment and implements, farm inputs such as seeds and fertilizers and the development of agricultural infrastructure including fencing, water reservoirs, boreholes, marketing facilities and housing for farm labor. It should also put particular emphasis on the redistribution of commercial farmland on the basis of “willing buyer, willing seller” and increasing women’s access to credit.
The sector goal is to lead to continued growth in agricultural Gross Domestic Product (GDP), across the broadest possible socioeconomic base, in a sustainable manner. The project objective is the provision of funding to Agribank to onlend at market rates to emerging (communal) farmers and commercial farmers countrywide for investment in livestock production and irrigated and rainfed agriculture.
The direct beneficiary of the project is Agribank. In addition, the ultimate beneficiaries are emerging farmers/ community and commercial farmers across the country.
African Development Bank
|Last Update||11 Jul 2020|
|Name||BALAYAH Mohamed Yusuf|